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Citigroup was estimating second-quarter profit of $US27.5 million and described the result as a “likely small miss versus consensus." Macquarie Equities said the result was “slightly below" its estimate, but said it was “another successful quarter".

Aurora shares dipped as much as 3.1 per cent initially on Thursday to $3.11, before recovering to about $3.18 late morning.

Mr Brooks said Aurora could look forward to “an excellent year next year as well."

“Our drilling program net to Aurora is really back end balanced to the second half of 2013 and expected to grow in 2014 resulting in material production growth and ensuing cash flow," he said on the call.

Mr Brooks said Aurora’s financial liquidity “remains strong", with $US165m in cash and a $US200m undrawn credit facility, meaning it is fully funded for the year. The company has total debt of $US665 million.

Aurora is spending heavily on drilling. Earnings before interest, tax, depreciation, amortisation and exploration expenses were $US156 million for the first half, while development capital expenditure was $US213 million. But capex as measured on a per-well basis is coming down, the company said.